Marks Electric Regulatory News (MRK)

Marks Electrical Group plc

Response to CMA Announcement

Marks Electrical Group plc ("Marks Electrical" or "the Group"), the online electrical retailer, notes today's announcement by the Competition and Markets Authority ("CMA") regarding the opening of an investigation under the Digital Markets, Competition and Consumers Act 2024 ("DMCCA") into certain online pricing practices across a number of businesses, including Marks Electrical.

We pride ourselves on transparency, clear pricing, and providing services that customers consistently value. For many years we have led the way in offering optional recycling, packaging removal and old-appliance collection services, helping to reduce landfill waste and ensuring responsible disposal of plastics and polystyrene. These services are highly popular with our customers and remain entirely optional.

Our checkout has endeavoured to present these services with clear descriptions, clear pricing, and a simple one-click option to remove them. Product prices and service costs are shown separately and prominently, ensuring customers can make informed decisions before completing their purchase.

Following initial engagement with the CMA, we have already taken proactive steps to further align the presentation of optional services with the CMA's most recent expectations under the DMCCA. We will continue to work constructively with the CMA to ensure our customer experience remains both transparent and compliant.

Marks Electrical is committed to full compliance with all applicable consumer and competition laws, including the DMCCA. The Group is proactively engaging with CMA and will cooperate fully with the investigation. A further announcement will be made as appropriate. 

Enquiries:

Marks Electrical Group plc Via DGA Group:

Mark Smithson (CEO) Tel: +44 (0)20 7664 5095

Tom Pallat (Interim CFO)

DGA Group (Financial PR)

Jonathon Brill / James Styles Tel: +44 (0)20 7664 5095

markselectrical@dgagroup.com

Canaccord Genuity (NOMAD and Broker)

Max Hartley / George Grainger Tel: +44 (0)20 7523 8000

About Marks Electrical

Marks Electrical is a highly scalable, technology driven e-commerce electrical retailer which sells, delivers, installs and recycles a wide range of household electrical products. The Group was founded in Leicester in 1987 by Mark Smithson and has scaled into a nationwide online retailer with a compelling growth track record, thanks to its vertically integrated, low-cost, high-quality operating model, supported by the ongoing structural shift of consumers to purchase online. The Group operates within the UK Major Domestic Appliances (MDA) and Consumer Electronics (CE) market, estimated to be worth approximately £7 billion.

Primarily through its simple, clear and intuitive website - markselectrical.co.uk - the Group offers over 4,500 products from over 50 leading brands across its main product categories, which include Cooking, Refrigeration, Washers & Dryers, Dishwashers and Audio-Visual. These products are sourced from UK distributors of the brands, with whom the Group maintains strong and direct relationships. Marks Electrical delivers direct to customers in its owned and branded vehicles, operated by the Group's skilled team of delivery drivers, who are also able to offer installation and recycling services.

For further information, visit the Marks Electrical corporate website: https://group.markselectrical.co.uk and its retail website: https://markselectrical.co.uk/.